Chart Beat: Highways authority is awarding projects at a snail’s pace | Mint

Chart Beat: Highways authority is awarding projects at a snail’s pace

Road construction, on the other hand, has gathered pace. So far in FY24, NHAI has built about 1,990 km of roads (Photo: HT)
Road construction, on the other hand, has gathered pace. So far in FY24, NHAI has built about 1,990 km of roads (Photo: HT)

Summary

  • The NHAI has cleared just 310 km of highways in FY24, or about 5% of its 6,000-km target

The National Highways Authority of India (NHAI) has been awarding projects at a snail's pace of late. So far this financial year it has cleared just 310 km of highways or about 5% of its 6,000-km target, which is roughly in line with FY23 levels. This has had an impact on road construction companies. Motilal Oswal Financial Services noted that NHAI would pick up the pace in December, but even so, most road construction companies have reduced their order-inflow guidance for FY24.

On the other hand, road construction has gathered pace. So far in FY24, NHAI has built about 1,990 km of roads. In FY23, road construction touched 4,882 km, or 13.4 km a day, up from 11.8 km a day in FY22.

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